At International Base Metals Ltd we approach mining as a process of discovery
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Reminder - Rights Issue Closing Date Extension
Further to our advice, you would be aware that IBML has extended its Rights Issue closing date to 6 April to accommodate our cornerstone investor, West Minerals Pty Ltd, which has now delivered their pro-rata $800,000 contribution. This will facilitate the restarting of exploration in Namibia.
A new exploration programme, to commence immediately, is directed towards scoping the extent of copper mineralisation of the Ekuja Dome which also incorporates the existing Omitiomire JORC resource. The extent of drilling will be governed by the available funds and therefore your contribution would be gratefully received to ensure that we maximise shareholder value in determining the resource potential of the area.
Please do not be limited by your pro-rata entitlement as you have all received shortfall application forms which you are welcome to use. However, we must have your forms and your indicated interested by Monday 6 April 2009.
The Board intends to place a proportion of the shortfall in the coming weeks but at all times would like to give existing shareholders the first opportunity to make additional contributions at this especially low price (A$0.08 per share) ahead of any external placement.
